Nexus Between Financial Development and Economic Growth in Assam

Hussain, Farah

doi:10.1177/0019466220150307

Cited by 4 publications

(4 citation statements)

References 14 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Similarly, various researchers were used different proxy variables for measuring financial development. However, some researchers computed financial development index using various proxy (see Chakraborty, 2010; Hussain & Chakraborty, 2012; Gounder, 2012; Adu et al, 2013; Nain & Kamaiah, 2014; Lenka, 2015; Lenka & Sharma, 2020).…”

Section: Review Of Literaturementioning

confidence: 99%

Relationship between financial inclusion and financial development in India: Is there any link?

Lenka

2021

Journal of Public Affairs

View full text Add to dashboard Cite

A dynamic chain of financial activities and services can be served from debtors to creditors in the international economy through an efficient and effective financial sector. The motivation behind this study is to investigate the linkages between financial inclusion and financial development in India during the period (1980–2017). For this, the study employ principal component analysis (PCA) to construct both financial inclusion index and financial development index which measures financial access and financial depth position respectively. Using a set of determinants related to financial inclusion and financial development, the present study estimates there is a unidirectional relationship between financial inclusion and financial development in India. So, it reveals that financial inclusion is an essential element for financial sector development especially in a developing country like India.

show abstract

Section: Review Of Literaturementioning

confidence: 99%

Relationship between financial inclusion and financial development in India: Is there any link?

Lenka

2021

Journal of Public Affairs

View full text Add to dashboard Cite

show abstract

“…In the context of India, Hussain and Chakraborty (2012) adopted the principal component method to develop financial depth indicator as representative of financial system development and observed causality running from financial development towards economic growth in the north-eastern state of Assam. The study confirmed the presence of cointegrating equilibrium relationship between the indicators of capital market development and growth in the Indian economy.…”

Section: Literature Reviewmentioning

confidence: 99%

The Dynamics of Cointegration Between Economic Growth and Financial Development in Emerging Asian Economy: Evidence from India

Tripathy

Mishra

2021

Vision: The Journal of Business Perspective

View full text Add to dashboard Cite

The present article examines the relationship between economic growth and financial development in the context of Indian economy over the period of 15 years from June 2003 to February 2018. The study employs cointegration test, involving Johansen Juselius Cointegration and autoregressive distributed lag (ARDL) Bounds test approach to ascertain the long-run relationship between financial development and economic growth. The study further employs fully modified ordinary least squares—OLS—(FMOLS), dynamic OLS (DOLS) and canonical cointegration regression (CCR) models to ascertain the sensitivity and robustness of the estimates derived from ARDL Bounds test approach. The stability of the models employed in the study are further confirmed by rolling window analysis and the cumulative sum (CUSUM) and cumulative sum of squares (CUSUMSQ) tests. The outcome of the article reports the existence of long-run equilibrium relationship between economic growth represented by Index of Industrial Production and Financial Development represented by the Bombay Stock Exchange (BSE) Index and BSE Volume of Trade. The article also involves consumer price index as proxy for inflation, exchange rate, ratio of export to import and weighted average call rate as control variable to also examine their impact on the Indian economic growth. The study confirms the existence of Supply Leading Hypothesis, that is, existence of unidirectional causality running from financial development to economic growth in the Indian economic scenario. The outcome of the article indicates the positive and significant influence of development of financial markets represented by stock market on the economic growth.

show abstract

“…The absence of accessible and affordable formal bank accounts in a financial system can result in persistent income disparity, poverty and sluggish economic growth (Hussain and Chakraborty 2012). Low levels of financial inclusion in an economy increase the gap between the rich and the poor as the population is characterised by inequitable growth.…”

Section: Introductionmentioning

confidence: 99%

Factors Influencing Financial Inclusion for Social Inclusion in Selected African Countries

Njanike,

Mpofu

2023

Insight on Africa

View full text Add to dashboard Cite

The study investigated the determinants of financial inclusion in selected African countries. Researchers have found an extraordinarily strong positive association between social inclusion and financial inclusion; financial inclusion is the key to eradicating poverty and social exclusion as it presents an opportunity for people to benefit from financial services. A single data set was formed by combining four samples from the Democratic Republic of Congo, Eswatini, Kenya and South Africa. Data were obtained from surveys done by FinScope. FinScope Consumer Survey is a probability survey with an end-user focus (individual or household) on financial services and products. The FinScope Consumer Survey, done by the FinMark Trust, is uniquely aimed at increasing understanding of the informal financial product/service market. Probit regression models were estimated to find significant factors influencing financial inclusion in selected African countries. The linear probability model was used for the robustness check. The study found that age, education, marital status, bank branch accessibility, location, internet, salary, income, proof of residence, social networks, financial advice, gender and connectivity were significant in influencing financial inclusion. Governments must implement policies that enhance financial inclusion, in particular, ethnic groups, small communities and minorities. These policies will also lead to the reduction of poverty and the attainment of the UN Sustainable Development Goals.

show abstract

Nexus Between Financial Development and Economic Growth in Assam

Cited by 4 publications

References 14 publications

Relationship between financial inclusion and financial development in India: Is there any link?

Relationship between financial inclusion and financial development in India: Is there any link?

The Dynamics of Cointegration Between Economic Growth and Financial Development in Emerging Asian Economy: Evidence from India

Factors Influencing Financial Inclusion for Social Inclusion in Selected African Countries

Contact Info

Product

Resources

About